Cedar Rapids Public Library Foundation

Analysis

Cedar Rapids Public Library Foundation is a registered charity in United States, based in Cedar Rapids, IA. It received its IRS tax-exemption ruling in May 2016, 10 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Cedar Rapids Public Library Foundation reported income of $4.2m and spending of $645k, leaving 85% of income unspent that year. Across the 5 years on record, from June 2020 to June 2024, income grew from $458k to $4.2m (+813%), an average of +74% a year. The sharpest change came in the year to June 2024, when income rose by 615%. Over the whole period it spent 30% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Cedar Rapids Public Library Foundation sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 92nd percentile within IA. Charities of a similar size with the same main cause include Providence Classical Christian School ($4.2m), Willows Academy ($4.2m) and Healy Murphy Center Inc ($4.2m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 92% of the total. Compensation of current officers, directors and key employees was $124k (19% of expenses). Other salaries and wages came to $88k. It paid $25k in professional fundraising fees. At year end it held assets of $16.4m against liabilities of $1.8m, net assets of $14.6m. It reported 3 employees.